Times Staff and Wire Reports

Citicorp's Steffen Quits: The New York-based institution said Christopher Steffen, 53, the financial executive who shocked many on Wall Street when he joined the banking giant from Eastman Kodak Co. three years ago, has resigned. A spokesman for the nation's largest bank said Steffen's departure was unexpected. Victor Menezes will succeed Steffen as chief financial officer. Menezes was most recently responsible for Citicorp's consumer banking operations in Europe and North America. With the appointment of 46-year-old Menezes as chief financial officer, Citicorp signaled it is grooming a candidate as a possible successor to Chairman and Chief Executive John Reed.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World